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COVID-19 – Accounting for provisions

Capturing the impacts of the pandemic on your business

Capturing the impacts of the pandemic on your business

Many companies are keen to recognise the impact of COVID-19 in P&L now, but this means finding the right balance between under- and over-providing for its impacts.

In this podcast, Irina Ipatova and Ian Greenwood provide a reminder of what can and can’t be provided for. 

Listen on  >Apple podcasts  >Spotify  >Google Podcasts

 

“You can’t reflect all your COVID-19 costs now. And a hit to margins is just something you can’t provide for"

Ian Greenwood,
Director,
Accounting Advisory Services,
KPMG in the UK


“You cannot provide for future operating losses but should provide for a loss-making contract.”

Irina Ipatova,
Director,
KPMG International Standards Group

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